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8 March 2006

Diamond Sets(HKTDC Jewellery, Vol 01,2006)

Brilliant Match

This elegant diamond earring and ring set in 18K white gold from Mira Style Jewellery Co Ltd adds glamour to a glittering event

Why be satisfied with one piece of jewellery when a matched set of two or more pieces looks even more impressive? This is the thinking behind the idea of diamond jewellery sets, and Hong Kong manufacturers have at their disposal all the design creativity and skills necessary to produce them.

"We have more than 10 styles built around the ballerina concept," says marketing manager Michael Wu. "However, our heart, cross, flower and insect lines are doing well too."

Established in 1992, the ODM firm focuses on the low- to medium-price segment for its 925 silver, 9K, 14K and 18K gold, and 950 platinum jewellery, with pieces priced from US$100-1,000 per piece FOB Hong Kong.

Three-piece sets (ring, pendant and earrings) with centre stones under 50 points sell best. "If you go up to four pieces, though, the price then becomes more of a factor," says Wu.

Fancy cut diamonds, such as pear, baguette, princess and octagon cuts, and micro-pavm settings have been gaining momentum, although Wu says that the traditional round brilliant cut is still at the top of most wish lists.

Legend's diamond sets are suitable for either daytime or evening wear, and designs are tailored to the demands of specific markets. The US, for example, has a 70%-80% market share. "The US wants a bigger look, while the stones can be of lower quality. In Europe, though, design is more important," he adds.

A high volume producer, fabrication takes place at an own factory in Panyu on the Chinese mainland that turns out more than 50,000 pieces per month. These are exported mostly to the US, Europe, South Africa and Australia. No minimum order is required, and delivery time after order confirmation is about 3-5 weeks.

Diamond sets are also growing in popularity at Vista Jewelry Ltd, where they now account for about 10% of sales.

"We have two-, three- and four-piece sets," says marketing manager Eva Fu. "Two-piece sets - usually comprising a ring and a pair of earrings - are most in demand. The idea of having an exact match appeals to many people and we are hoping to increase our offerings of two-piece sets so that jewellery sets will eventually account for about 20% of our total production."

In business for seven years, the OEM/ODM firm manufactures European-style diamond and precious stone jewellery set in 18K gold or 950 platinum.

"Our products are in the medium-price range, and we try to keep them simple but with enough design elements to make them look more expensive," Fu says, revealing that prices in general range from US$1,000-4,000 per piece FOB Hong Kong.

Diamond jewellery represents 70% of the more than 500 pieces the company produces monthly at production facilities in Hong Kong and the mainland. "Higher-end items are usually crafted in Hong Kong," Fu says.

Emerald cuts are a favourite with the company's three designers, she adds, with diamond sizes kept to less than 50 points. "Using an emerald cut is a good way to distinguish us in the market," she adds. No minimum order amount is required, and delivery takes about four weeks after order confirmation. Major export markets are the US, the UK and Germany. "We're also thinking about expanding into Asia."

Animals, insects and flowers are the most saleable motifs for diamond sets at Gold Field Co Mfg Ltd.

"We try to match the designs to our major markets," says Karen Kam, assistant to the managing director at the three-year-old company. "Our major export markets include the US, Europe, the Middle East and Southeast Asia."

Kam says that sales of diamond jewellery sets, which account for about 15% of the 3,000-4,000 pieces of fine diamond and gem-set items in 18K gold or platinum manufactured by the firm each month, remain steady.

Two-, three- and four-piece sets are available, with FOB Hong Kong unit prices ranging from HK$2,000 for a ring, pendant or earrings to more than HK$50,000 for a necklace. Minimum order is 10 pieces, with delivery 10-14 days after order confirmation.

This OEM/ODM company typically sets its jewellery in 18K gold or platinum, and uses diamonds in 10-50 point sizes. "We sometimes go over one carat," Kam adds, noting that most production takes place at the firm's 5,000-square-foot factory on the mainland while some high-end pieces are subcontracted to workshops in Hong Kong.

Gold Field continues to create fresh new designs but often finds that customers like to stick with familiar classics. "But we still like to offer new ideas and designs," she smiles.

Diamond sets are to jewellery what a perfectly coordinated outfit is to a well-groomed woman, and represent another element in a dress-for-success formula that enhances the upscale image to which they aspire. Hong Kong manufacturers are more than capable of fulfilling this desire.

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